How Personal Income Taxes Work!(in the US at Least…)

As the famous Benjamin Franklin quote goes; “In this World, Nothing is Certain except Death and Taxes.” Unfortunately, the Internal Revenue Service (IRS) and our exceptionally complicated tax code make it extremely difficult to understand. Not everyone has to deal with the same types of taxes, but one is quite common; Personal Income Tax. If you make money in the US, then the Government is getting a piece. But what really are Personal Income Taxes and how do they work?